Welcome to Savings Guide
Us Savings Bonds Series Ee Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Holding a Savings Account
from:Introduction
A savings account is basically defined as a bank account designed to help the customers set aside a portion of their liquid assets, while also earning a monetary return.
Offered and maintained by a series of commercial banks, savings and loan associations, credit unions and mutual savings banks, these accounts require that the amount deposited cannot be used directly as money, thus encouraging savings.
Features and Provisions
In most of the cases, such savings account requires that the funds be kept on deposit alteast for a minimum length of time, though some also allow unlimited access to funds. In other words, there is a limit on withdrawals, payments and transfers that might be performed through a savings account.
While some of the banks will not allow any transfer of money beyond this limit, the other will notify the account holder that such a regulation has been violated. Each of the savings account holders are offered an itemized list of all financial transactions, either through a passbook or through a bank statement.
However, withdrawals from a savings account are occasionally costly and at times much higher and more time-consuming than the same financial transaction being performed on a demand account. Though most of the savings accounts do not offer cheque-writing privileges, yet there are many institutions that refer to their higher-interest demand accounts or money market accounts as savings accounts.
Latest Developments
The introduction of internet into the world of banking has made the concept of high yield savings accounts highly popular. Available through virtual banks, such an internet savings account business model is based on an attempt to offer interest rates which are higher than those available at storefront banks. A few amount of retail locations along with low customer service costs through automated and computer systems makes such a business model quite effective. In fact, internet operated banking systems are highly effective and recommended if the customers concerned are well-versed with nuances of internet and are aware of how the system works.
Experts suggest that holding at least one of such savings account is crucial if you want to develop a consistent regimen of savings and investments. The stringent regulations of most of the institutions offering such savings account do not allow you to withdraw frequent or high amount of savings from your account, which indeed have a favorable effect in the long run. In fact, to encourage and attract a large customer base, quite a few of these institutions also offer special internet rates to specific age groups as well, such as youngsters.
1
Us Savings Bonds Series Ee News
U.S. adds fixed-rate return to new 'I-series' savings bonds - Los Angeles Times Blogs
The U.S. Treasury recently had seemed to be on a mission to drive Americans away from buying savings bonds. So a change announced on Monday came as a surprise: In its semi-annual adjustment of interest rates on inflation-indexed savings bonds , the ...
Read more...Moneyline columnist Neil Downing has some good news about Series I ... - Providence Journal
If you’re cleaning house in preparation for the holidays, don’t throw away your Series I savings bonds. Don’t cash them in, either. In fact, do nothing, because these little gems may well be the star of your portfolio. Amid the extraordinary ...
Read more...Savings bond rates jump, making them even more attractive - Walletpop.com
Inflation protection is the highlight of the day when it comes to U.S. Savings Bonds. This morning, the Treasury Department announced the new rates for savings bonds issued from November 1st, 2008 through April 30th, 2009. With that announcement came ...
Read more...Ask the Biz Brain - Newark Star-Ledger
Bond girl The Treasury changed the amount of savings bonds you can purchase each year to $5,000 in paper form and $5,000 in electronic form for both Series I and Series EE savings bonds. You can read the news release on the TreasuryDirect website ...
Read more...Administration ponders ownership stakes in banks - Northwest Herald
WASHINGTON – News that the Bush administration is considering taking part ownership in a number of U.S. banks helped restore a relative calm over global financial markets Thursday. The aim of such a move would be to thaw the lending freeze that ...
Read more...